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but it is not the end of the world. >> mitt romney did what he needed to do. the polls show that the momentum continues with romney ahead in a couple of polls. first up our top story, the dow taking a hit. companies warning the economy the worst than ever. >> let's put europe aside. it seems that investigator einv level on the dow. and 1400 on the s&p. and we did dip on the nasdaq today. profits disappointed and it seems frantic to cut costs. many disappointed on price. everybody was confused on getting the ipad four. that seems to be the case and facebook cramer talked about it. up 13% that revenue on the add side better than expected back to you. fast money contributor, brian kelly, good evening, gentleman, as i recall, you have been expecting a correction. now, my question to you, is this the end of the world or are we going to go to the bottom and what is going to happen next? help me out. i don't think this is a major pull back. this is just a bit of a drift lower. we hold to our outlook. it would be a buying opportunity. there is a bright spot. a lot of companies with exposed earnings here. we ha
university in boca raton, florida, where in two hours president obama and mitt romney will square off in their third and final debate. two weeks until election day, and polls showing continued romney momentum. could this be obama's last stand? the terrorist attack on our embassy in benghazi will be one of the phonus points of the debate. joining us now from the debate site, ace reporter cnbc contributor robert costa, "national review." robert, what is team romney telling you about tonight? >> reporter: team romney is very optimistic about tonight, but they know it will be a break-even debate. this is president obama's best subject, foreign policy, romney is a governor and businessman, not his wheelhouse, but he's been well prepared for this debate and expect him to come out firing at the president's record, especially on libya. >> okay. let's pursue that. is he going to go right after benghazigate, go right after it picking up where he left off in the last debate? >> well, as you remember, larry, the romney campaign feels during the town hall romney didn't have a great answer on libya
romney says he will reach across the aisle to make various fiscal deals and president obama just didn't do that, didn't have the capacity to do it, didn't seem to have the interest to do it, that's the political dynamic out on the campaign trail. what i'm asking you is are there democrats and republicans, let's start in the senate, one hears a group of six, a group of eight, a group of 12, people like that who can find common ground that will stop this big tax hike, that will help manufacturing, that will give you a corporate tax cut, for example, which i know you all want. is there a leadership, a d and an r that could find common ground and lead to us the promised land. >> it's not just corporate taxes but also individuals. two-thirds of manufacturers pay taxes at the individual tax rate. to your question about who is helping who is not, we're hearing a lot of rhetoric from both sides and frankly we haven't seen a lot of action. here we are two months before the december 31st deadline, ten days before an election and nothing has happened. this is not exactly as if this problem mater
, three town. president obama and mitt romney dual over foreign policy and the health of the u.s. economy in their third and final debate. made vase mire lays out her vision of yahoo! as the internet company posted better than expected third quarter figures. but burberry an lis cutting price targets. and bank of israel splaning for all sorts of eventualities among tipped tensions. . >>> on today's show, plenty to get through of course. let's remind you what's coming up. we'll discuss the presidential debate with experts one which president obama says was clearly the winner while the other thinks romney was the one who looked more presidential. we'll hear from the governor of israel stanley fisher with a live update from tel aviv. and we'll get an in-depth analysis on the latest earnings out of japan. find out what stocks our guests think is a buy at 10:30 cet. also is there more easing on the cards for the fed? we'll head out to philadelphia with the latest expectations. the fed begins its two day meeting. but first, president obama and mitt romney faced off for the third and final time b
to for the first time mitt romney is tracking at 50% in the newest "washington post"/abc poll of likely voters. romney leads president barack obama 50-47. this is just further evidence why i believe he will sweep the midwest and win this election going away. i'm now predicting a 330 electoral vote landslide. that's right, 330 electoral votes and i'm going to show you why later on. but first up tonight, with elections 12 days away, then the lame duck congress, including the fiscal cliff, we call on leon cooperman, chairman and ceo of omega advisers, one of the 40 businessmen behind the open letter, a critical choice for america advertisement that ran earlier this week in "usa today." lee, thank you for coming on. i appreciate it very much. i have to ask you, you've had a fabulously successful career. this has to be a tricky moment. you have an election in 12 days. you have an unsteady market with earnings dropping and so forth and so on. what is your advice to investors? how do we get through this between now and year end? >> thank you, by the way, for having me on the show. i think the stock m
a new president romney could have any quick effect on interest rates and the fed. good evening, everyone. i'm larry kudlow. this is "the kudlow report." we begin tonight with this. how in the world can the president and the secretary of defense leon panetta, knowing we were being attacked in benghazi, not send heavy firepower to save the lives of the men? we know tonight that the white house, the state department, and the defense department all new in real time about that attack. meetings were held. nothing was done. instead, four good men died. and still today the white house is sticking to their cover story. we are doing this because it stands to the credibility of our national security and that of the administration. and this evening a new timeline has emerged from e-mails sent from the state department to top national security officials, including the white house situation room, begging for help. nbc's mike viquera takes us through the chain of events. >> a series of e-mails sent from the state department to officials here, sent in real-time as the assault on that compound in benghaz
along with joe kernen and andrew ross sorkin. romney accused of president of diminishing american leadership during his first term. they discussed military spending, the middle east, china. and john harwood will join us with the highlights. among our newsmakers you can we have rob portman at 7:00. he's been playing the role of president obama in mitt romney's debate preparations. then coming up at 8:00, we have senator john kerry. he's been playing mitt romney in the president's debate prep sessions. of course earnings central is still in full swing. before the bell, we will hear from dupont, 3 m, united technologies, and many others. also a topic dominating discussions is the fiscal cliff. the annual meeting of the securities trade group is taking place in new york today. and the looming risk the u.s. economy is sure to be on the agenda of participants. we'll be joined by a few of those this morning. including gary gensler. chet heick will also be joining us. on the lighter side of thing, we'll have a rock star among us this morning. yeah, we mean this literally. not just the roc
emphasis on reducing unequality and governor romney puts more emphasis on growth. they tell you we want everything and governor romney might say something about inequality, but broadly speaking that implies probably somewhat forward growth under president obama, maybe not for middle income americans and faster growth under romney. although, of course, we don't know exactly romney's plan but i think what he has in mind is a big tax cut, reagan/bush like, hopefully improving the tax system. i don't know if he could really believe that that would balance the budget or be neutral right away. but i think he believes he can much improve growth and over the long run things would balance out. and president obama says that we're well into this housing is picking up, and things are gradually healing. if you're patient, things will be a lot better under me too. >> what about the fiscal cliff. we're obviously going off the fiscal cliff at the end of the year when the tax cuts expire and we'll see a huge tax increase for 90% of the country, all income levels, then you're going to see spending progra
money and the election. the power of the presidency. what obama or romney would mean to the markets or economy. then the bombshell accusations by a banker turned whistle employeer. my interview with greg smith about why he left one of the most prestigious firms in world and the charges he makes. and cooking up the formula for success for small businesses. "wall street journal" report begins right now. >> here's a look at what's making news as we head into a new week. some encouraging news about the economy. the cross domestic product grew up 2%. the broadest overall measure. economists were expecting a growth rate of 1.8%, the number booming by increase in spending and stronger housing market. the dow falling nearly 250 points on tuesday after poor earnings news an the market was plate later in the week. big multinationals did not farewell. guidance was light. boeing and proctor and gamble beat expectations. among technology and internet company, yahoo! and facebook beat expectations -- the company introducing the ipad mini, smaller and lighter than the full size ipad and listing fo
with rosneff but says no decision has yet been made. and president obama, mitt romney head into their final debate tonight as new poll shows they're now in a dead heat with just two weeks to go before election day. and plus japan records its sharpest export since last year's devastating earthquake. raising fears the world's third biggest economy could be slipping back into recession. it's the start of another week here on on "worldwide exchange." kelly is state side helping to host "squawk on the street." p meanwhile plenty to come still on today's show. here in london, protesters have been marching against austerity. one of our reporters was there. demonstrators took out their anger on multinational companies. in new york, wall street a underwhelmed as corporate giants like ge, part owner of this station, had cautious revenues. we'll pibd out if cat pill what are and yahoo! will buck the trend or affirm it pnd and obama and romney squaring off, who is likely to deliver the knockout below. we start out with the focus squarely on earnings. fill whips beat expectations. the firm which traditi
the markets like, romney or obama? >> i don't really know. >> markets always have a preference. >> people who vote for obama would say obama, people who vote no romney would say romney. >> but what would the markets say? >> business might modestly favor mitt romney, but it doesn't necessarily mean that's better for the markets or not. >> at jpmorgan, are you worried about the fiscal cliff situation and which way it could return in the month of december? >> there are two parts. one is actually what happens at the end of december and you can feel the effects of that before the end of the december. the second one is the real fiscal cliff, does the united states of america show it has the will and capability to fix its fiscal problems. i'm not worried as much for jpmorgan as i am for american business and more than that, the american jobs and the average american. a fiscal cliff and another recession would be terrible for america. we should do everything we can to overt that. >> if an acceptable solution does not come about, do you feel we could have a recession next year? >> yes. i think they're
been about qe-3. the concern we've had in the last few weeks other than earnings has been a romney presidency, means bernanke gets replaced. that's what's driving markets. unfortunately, the answer for investors is going to have to be the election and who replaces bernanke over the next six months or so. once you get past that, i think you can get back into ma wha the policy differences would be. for now, i would stay neutral to long stocks because i'm not 100% sure that romney is going to win, but if i thought he was going to win, i think that would be a short-term negative only because it changes the equation with with the fed and not necessarily with policy. >> so short term negative for stocks? >> no, short-term -- >> because there's a real debate there. the equity guys say romney would be a short-term positive for equities. >> if romney's elected and bernanke leaves, that changes the equation. that's, i think, a concern that's been in the market for the last week or so. i understand what they're saying about the short-term positive. but i think this market's about monetary sti
policy down the road. steve leisman here with part of the story. with the possibility that romney will win the white house, the street is beginning to think a little bit more about what he might mean and a reinvigorated gop in the house and senate could mean for the fed. >> right. it is sort of interesting that the conversation hasn't been joined to this point but the rise in the polls has really bro brought it to the fore. what they're think something a romney presidency means a more hawkish federal reserve, but when more hawkish? the thinking is he will not reappoint bernanke. he said as much. what's that mean? it means a fed chairman, for example, like glen hubbard. here's what barclays said. any new fed chairman after january 20 14 14 14 is likely t more hawkish than under an obama presidency. >> let's talk a little bit about whether there is any possibilities should there be a romney victory that he would begin nudging him out above his term ends in 2014. >> he can't force him to resign. it is a voluntary thing that bernanke would do. dose have the ability in 2014 appoint the
about the stakes raised tonight, is romney now bad for american companies trying to do business in china? >> this is a point. >> and he had caterpillar ceo saying it's your typical election year bashing. if it's not, cat has a lot bigger things to worry about. >> is this big? >> i assume but talks with afghanistan and benghazi -- we thought this was going to be about the economy all the way to the end. it's taken a hard right turn. >> tonight's the intellectual debate. ge obviously doesn't want anything bad said about china. >> no. >> we heard the same thing from caterpillar ceo, he thinks this is about political rhetoric. last week strategists said which candidate might be more market friendly. some believe romney with the sabre rattling could be more upsetting to markets. >> which you get a cold war between countries, you can see the chinese, communist parties, no toyota -- i don't know how to say that. >> we export a lot more to us than us to them. >> general motors, chinese shuts down general motors and he dumps all the gm stock like that. >> what about apple? >> i don't know. >> you
? a rally that felt romney would do a good job. >> we have a situation macro versus bernanke's bid under the market. >> if it weren't earnings report season, it would be terrific. it's like what you were saying before. if the international debate had been first -- >> foreign policy. >> how would that change the outcome? reports do sort of keep with one theme which is split personality between u.s. businesses and u.s. consumer. the real question is can that relationship hold up? >> then we had those companies that are tech that straddle both. they are western regional. and yet this whirlpool, that's a consumer stock related to housing. they said over and over again if housing gets going, they are now lean and mean. they're not enough whirlpools and coaches to overtake the duponts. >> they said we missed the consumer boat. we should have been more aggressive on that front talking about areas of strength. >> talking about a consumer company, there's a company called apple, maybe you've heard of it. it's in the spotlight as the company is set to launch a smaller version of the ipad later tod
and governor romney asking why housing is not front and center of the campaigns. "considering the depth of these debates and the months of political advertisements in this campaign, it is discouraging that there has not been serious discussion about housing. as leaders, you ignore housing at our peril. the remax chairman and co-founder who wroelt that jote us now on the program. thank you for joining us, dave limit niger. we know housing is important. people know housing is important. are you asking for two specific things. one is that they don't eliminate mortgage interest reductions. they don't eliminate that tax break. why in your view when the country can't afford what it's doing should there be an entitlement still for those that have mortgages when there isn't an entitlement or tax rebate for renters. why should renters subsidize mortgage holders? >> well, the tax deduction has been there for over 50 years to encourage home ownership. the problem we've got is we've just gone through the worst five years of housing in the history of the united states. if it has to be tinkered with,
romney. >> great editorial piece in the journal about how that came about. some senior official obviously said that a tempting october surprise. talks about not just in that instance, a movie about how to-to-cheat on your wife where you're this bed with a woman, your wife comes in, you just keep denying as the woman gets dressed, you get dressed, your wife keeps say whog is this woman, what are you doing, what woman? until she finally leaves and then five minutes later the wife just gives up and says what do you want for dinner tonight. but that's typical of what we've heard for the last 3 1/2 years. >> tonight is the big debate. it will be focused on foreign affairs. and they've already put out a list of the topics he wants to get to. so i don't know what new will happen tonight. they'll be sitting at a table. this might be more calm. they won't be walking around. also there was a new photo that's been released of fidel castro. seen holding up the photo of castro, he says he met with castro on saturday for five hours. rumorsed swirled over the health of the 86-year-old castro. in an arti
and the market would rather see romney. if that turns out to be true, i don't think that causes panic but we lose some of the enthusiasm. it's been a great year for stocks. i think we start to lose some of that enthusiasm if in fact obama goes onto win. >> partly this market reversal here from very strong rally mode earlier in the year on central bank easing and fed stimulus has turned as a result of earnings. herman, let's talk yahoo! for a moment. waiting on numbers to come out. are you expecting yahoo! to have seen what some of the other technology names have seen and that is a slowdown? >> for yahoo! it's different. obviously google's earnings last week set up an expectation to be not that high for yahoo!. and yahoo! is going through a change in regime whether it's the ceo, cfo, as well as head of sales. not expecting much for numbers there. the focus will be more on the company strategic direction and growth opportunities going forward. >> david, what do you think? >> what's more important here is the fact that microsoft's numbers that came out last week were weak and most specifically for y
. we have talked before about the market pricing and a romney victory. i think no market is priced more aggressively than the commodities market. i have a chart i'd love to pull up now. if you follow president obama's numbers on trade and overlay with the goldman sachs commodity, the fortunes are almost the exact same chart. the market's worried that if romney gets elected, all this money printing, the quantitative easing, that stuff might be over. it could be bad news for the commodity trade. >> all right. we'll leave it there. thanks, everybody. really appreciate it. we'll keep watching this market, which ended high we are a late burst of buying. we have breaking news on decker's outdoor. >> maria, this is what i like to call a who knew what when story. if you look at deckers right before the close, the stock took a really big hit. down quite a bit in the 30 minutes before the market closed. company came out with results. they were okay. it's the guidance that counts. you've got to listen to these numbers. the company now says sales in 2012 would increase by 5%. that's compared with i
to go deeper into it unfortunately. even if romney wins, we'll continue to repeat the same mistakes. obama is repeating the mistakes much bush and the fed is still there, ben bernanke has been repeating the mistakes of gre greenspan. jo think we have change until we have a monetary crisis. that is looming on the horizon sometime soon. >> folks, thank you for joining us. we'll see what happens here as we head into the final hour of trade. >> bob insana was driving the market? >> the fact that apple isn't having the volatility that people thought. we were lower, 1.5% to the downside but apple is essentially flat on the day on huge volume. north of 30 million shares, that's what driving things today. there's a lot of talk about the impact of hurricane sandy but not a lot on the stock market. there's been play on roofing and water proofing company up a little bit here. rpm and wr grace do a lot of water proofing but i don't see heavy volume. insurance companies, understandably, some of the ones with exposures, little weak. travelers and chubb, not big volume in them. whitewave foods thi
. >>> sue, get ready for round three. president obama, governor romney gearing up for their third and final make or break debate. this time focusing on foreign policy. it comes as a new nbc news/"wall street journal" poll shows the two men in a dead heat, a tie. john harwood live at the debate site in boca raton, florida. >> reporter: tyler, it is 47%-47% among likely voters which tells you that turnout is going to be everything in this race. one of the functions of these debates is for each candidate to energize their side and pump up turnout. we saw that successful first debate that mitt romney energized republicans in a very major way. president obama did that to some extent among democrats in the second debate. but i want to talk a little bit about what has gotten the two sides to this tie. obama's been leading for the last several months. he had a three-point lead in mid-september but two things have happened to get mitt romney up to 47%. the first thing is he's re-asserted his edge on handling the economy. that was tied in september. now he leads obama 46%-40% on who would be better a
of the year. the market wants romney to win. the market's going to rally if he wins. the market's going to sell off if obama wins. from here until two weeks from today, i think the market's going to continue under pressure. the question s do we continue with that pressure into year end or do we reverse it on an emotional high from a romney victory? 2013 is going to be a different story, but the last two months of the year will be purely on election emotion. >> and let me bring up another point. there was a story in "the new york times" this morning that ben bernanke is telling people privately he doesn't want a third term as fed chairman at this point. how much of that could be part of the selloff? >> i wouldn't link it to a rumor. it's too broad based and seems to be too much tied to the earnings announcements. having said that, while i think an election is important, i'm not sure which candidate is actually going to be good for the market. the reason is, to the extent we see a significant pullback on the spending, even by the government, i'm not sure that's going to be particularly po
doubts that. plus, romney has been making a ton of noise s about how to fix the deficit while still allowing more military spending. no one cared about boeing's upside surprise. the stock can't seem but stop going down. until the election and the fiscal cliff resolve themselves, we could tread water on these issues too. and then this one is the most fascinating, because it's in flux right now. the china test! here the data depends on the day. it's day to day with china. you've got a knife where the data is strong, out of china, it's good. you get weak, it's bad. got strong, cummins goes higher. same with a stock like timkin. remember them? the ohio-based industrial we visited last week which reported a shortfall, but a lot of that shortfall came from steel that's made in china! you get china to turn around, this part of the gauntlet can be breached. but every piece of chinese data is potential to call the whole enterprise into question. call it too, let's say, unresolved for now. however, i am leaning personally, heavily toward the idea that china has put in a bottom and 2013 will b
romney has risen in the polls lately is that he has retaken the edge over president obama over who can best deal with the economy. i am skeptical that even high-profile cuts like this are going to change attitudes that have been baked in to the american electorate for quite some time. we saw recently that we got good news on the unemployment rate. went and fell below 8%. that didn't really move the needle all that much, just as bad jobs reports before didn't move the needle. i think this is certainly not what president obama wants. it is something that has the potential to help mitt romney but we haven't seen much evidence of it so far. >> this morning's news on jobless claims, not so bad. improvement there. news on housing has been better. so there are signs that the economy may be -- or at least parts of it may be improving. but let's talk about the fiscal cliff and this push by some 80 ceos, among many different pushes, to get this solved. what are you hearing from your sources about the likelihood of a deal before the end of the year? >> when we look around and we see what's really
into it. >> a little surprising that the "times" it dispatch one of its reporters away from the romney investigation of his wealth to go over to china. they were able to spare him? probably a cadre working on romney. digging in to his garbage. >> david's invested a lot of his time. >> you ignore me. >> wise course. >> did you see victor pandit? >> you're trying to avoid this "wall street journal" editor kral. they channeled you. liberals confuse a pro-growth plea with a tax rate hike. this is the same discussion we had yesterday morning where we were talking semantics whether you call it a rise in tax revenues, lowering tax rates, higher effective tax rates. you were taking it immediately as a stamp of approval from the ceos to raise taxes, which is what they're talking about is a pro-growth plan. >> all the ceos can say we agree, but once you actually get down to the devil and the detail, it will be much more -- >> so you lost that argument yesterday. so today you booked larry summers, peter orszag, jared bernstein. i'm going to be -- >> you'll be just fine. >> no, i'm not. high bladd
, getting back to growth in the economy? >> i strongly believe that mitt romney has a set of policies that really focused on growing the economy. and his sole and single focus on creating jobs in the united states in the set of policies will lead to significantly higher gtp growth than over the last four years. i think there's a consequence as to who wins the election as opposed to the fact there will be quote/unquote certainty. >> if you think president obama wins re-election, we sort of muddle along and not headed towards growth then? >> again, i think if you look at what's happened over the course of the last four years, but particularly the last 18 months, we've seen significant desell race in growth. i think that has much to do with the set of policies that been problematic in terms of job growth in this country and also fundamental growth of overall gdp. >> can governor romney win then do you think? it's an incredibly tight race. >> you tell me. i think people have seen the real mitt romney, the individual who has had an incredible track record of success, solving complex proble
to a super pac supporting mitt romney. we'll talk about mitt romney's prospects for victory, what that could mean for the market, and where he's putting money right now. >>> up next, ex-goldman sachs banker greg smith hoping his new book will catapult to the best sellers book. he'll sit down with me after the break about what's in that book. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> welcome back. first, greg smith sent this fiery resignation letter to goldman sachs that was published as a "new york times" op-ed. that raised the curiosity of outsiders about the secret nature of the bank. people leave goldman all the time but rarely talk about it. smith accused the firm of puttin
think that romney is going to have a 50-state sweep if you think coal is going to be good. i got to tell you, romney -- i was joking on "squawk on the street," just joking, that it's mitt peabody rom anymore. like mr. peabody. so you need a romney win in order to make that portfolio work. let's go to robert in florida, please. robert? >> caller: hey, jim. how do you think atk will perform as a result of this upcoming election? >> i happen to think that atk which is a bullet make erwins either way. in the end, i still think there will be an army that needs to train for warfare, and don't forget, they got a huge billion contract. we've been behind that stock for some time. and we're sticking by it. i need to go to josh in wisconsin. josh? >> caller: hey, josh, big boo-yah to ya. >> what's going on? >> my question is about phillips international. they have missed two quarters in a row. is now the time to get in? >> no. i don't want to touch this yet. i felt that quarter wasn't good enough to merit a bottom. i thought -- research director, comanager of action alerts plus, we think the stock
? if governor romney gets elected, he says he's going to make changes and repeal aspects of the law. how do you see this playing out? >> he's not going to be able to repeal it because the republicans have voted many, many times in the house and haven't voted to repeal any aspect of the reform bill. it's popular with the public. it's the most popular thing we've done. what mr. romney would do if he got elected, which i do not expect, but if he were to be elected, he would appoint people who wouldn't operate it, who wouldn't use the rules. we'd go back to where we were before. we didn't have enough regulations, but we had some. we had regulators who wouldn't use. that's what would happen. as to the implementation, first of all, i'm happy with it. these are complicated things. look, one of the biggest problems we have, the biggest change i would have made if i had a magic wand, i would emerge the commodity exchange commission. it shouldn't overlap. one from the agriculture community, one from the financial. i'm very glad we were able to work it out. there are ten commissioners. you got to get six
in theory at least romney is more pro-business relative to obama. that's good for stocks. it's not that easy. beyond that there's a whole issue of the future of the fed and their commitment to the five-year ranks where they are and under romney that would not be the case. the big thing for us in the election is the bond market. that's highly asymmetric. could be a big loser on romney victory and the stock market has to deal with that even if the risk premium would come down. >> thanks for having us. sounds like jim was listening to the "squawk on the street" discussion we had yesterday on why the romney victory may not be great for stocks. >> cramming in a lot of information in a short period of time. we'll come to you later. you just heard from jim o'neill. still ahead, an exclusive with the man at the head of goldman sachs. that's lloyd blankfein. >> one restaurant stock that's still feeling the love this earning season. we'll talk about panera. for how long can it stay on top of its game? look at those games today. the company's ceo and executive chairman will join us live on cnbc. if we
, could get the stock moving. in china. this is really -- this is maybe the most right now. obama/romney stock away from the business and obama's people, made it clear they won't sell the remaining stake in gm. tim massen said the same thing, and the disposal agent. romney's camp indicated they will take gm immediately. they will sell that stock, so that's a pretty by near situation. you will get results from ralph lauren. will they be the next company that we thought was doing well and europe slowed? the stock went down 13 points, but that won't be enough. anything negative at all on the call, ralph lauren trades hard, up and down on very little volume. please be careful. there are huge numbers reporting, companies reporting on thursday, including exon. i think that will be just fine, by the way. i want to hear from little chart industries, the company as an important recommendation, and key to our nation's attempt to harness natural gas. it's a huge cost control for the whole conversion. we'll be on it. kellogg is a trade and there was a time when kellogg was consistent, consistent, co
a lot of rumors that people think romney is going to try to push bernanke around. raise rates. not only did warsh say this last night, i made some phone calls to the romney people. there's not going to be a romney fed confrontation. nada. not going to happen. don't even think about it. anyway, the romney people would not be unhappy with a zero interest rate for their first year, right, so they could help get the economy jump started maybe with some better tax and regulation policy. anyway, they couldn't move bernanke because he's stubborn. and, anyway, the federal reserve board is stacked with easy money obama appointees. so it would be like knocking up against -- it's not romney's style. he's just not going to do that. on the other hand, i think warsh is right. the fed is still worried about the economy. look at the numbers this morning on capital goods and durable goods. take out defense and take out aircraft. these were lousy numbers. businesses not investing. there's no capital goods activity. >> we had a bunch of ceos ring the bell today from fix the debt. >> yes. >> proposing what
money. everything's up for grabs again. romney's in maine. >> ohio is a big, big state. this is ground central for this whole campaign. >> yeah. >> you okay? you're beside yourself. >> i'm fine. >> you sure? >> i'm fine. >> you got a good-looking haircut. and there's more to life than a lot of this other stuff. you got your twins. >> you're right. they just whispered in my ear. i forgot lubrisol. >> he can't throw cornell in. >> but we should talk a lot about colorado, right? >> colorado. oh, my undergraduate school. they may turn that into a football club now i think instead of an actual -- that's what i would do. just try to compete. intramural maybe. >> okay, becky, we'll come back to you in just a moment. right now it's time for the global markets report. we're going to go across the pond where ross westgate is standing by in london to give us an update on what's going on over there. a little bit of a setup to what might happen here in the markets after a couple of very rough days, ross. >> yeah, andrew. and falls yesterday for the european markets, ftse doing a little bit better.
with this problem. i think this is still significant for the following reason. one of the key issues is in romney is elected president, he has a tax plan and deficit plan that does not involve reforming taxes in a way that raise z additional revenue and that very much reflects the priorities of the republican party. so if ceos are telling president elect romney, look, do a deal where democrat, gave some ground on taxes, does that make it easier to achieve the kind of bargain that everybody in washington thinks is necessary. i think it's less significant in the context of an obama re-election because if you think about it, most of the plans and frameworks that obama has been promoting do involve both spending cuts and revenue increases. >> some say if obama administration stays, then all the actors are exactly the same, so why would we get any new agreement. does that hold up or not? >> it's a great question and i sort of find myself falling back on the argument that something will happy because something has to happen. and i'm the first to admit that's not an encouraging way to make my case. but
ben bernanke, even if he stays until 2014, if it looks as though mitt romney is going to win, i think the market has to make an adjustment long before the fed chairman actually leaves his post next year. >> all right. so you're talking about a change in the white house as well as a change in the federal reserve. thanks, guys. really appreciate your time tonight. see you soon. >> thank you. >> bob, this market today under some selling pressure. not a bad day, though. fractional moves. >> i think the big hope was that the fed would sort of make some comment about the economy. really didn't happen. there was a bit of a delayed reaction. a very narrow trading range. take a look at the dow jones industrial average. we've been drifting lower for the last several days. we're doing a little bit of technical damage. the hope i had this morning was that maybe they'd upgrade their outlook on housing at least. look at the home builders today. new home sales, highest since april 2010. we got some of the housing starts numbers that were the best in years. i thought they'd upgrade that. they didn't
. no common sense. further one of the more important errors in governor romneys is the price of fast. the only way to do that is to give opec a run for his money. that is another positive. finally, the royal oil related make up part of the s&p. come on, that is crazy. the opposite is true. right? it is silly. the stock market should be going up not done. here is the silver lining to lower oil prices. there is the freak out. we are on day two or three and get a recognition on how positive this is. if oil goes down to $80 we have number that is have come down due to revenue weakness. this is what we see and happen many times before. the good news in the oil decline awaits us. we have to get through the doom and gloom first. >> build your future. >> thank you for what the money translates into in my case a college ithcation for my son. >> thank you for your passion for stocks. >> "mad money" does work. >> you are making me money for college. i love you. >> how many other shows have kids calling in and saying booyah. ... what should we invest in? maybe new buildings? what about updated equipment?
not agreed to cut entitlements. romney campaign has not talked about higher taxes on -- >> obama's entire -- >> this walks you throughout middle of both. >> the 20 page thing that he wasn't going to release, that talks about nothing with entitlements. all talks about is raising taxes on the top 2%. we had bob shrum the other day once again with the talking points about back in the '90s -- >> i'm not trying to conflate it with clinton. all i'm suggesting is the average effective tax rate goes up, so i find it odd when everybody walks up and says we want to lower tax rate, raise revenue. and get rid 6 all tof all the - >> because they don't get in trouble with grove ar norquist >> one other element whether they're thinking about this as a supply side thing. >> when you don't get in to the details, you avoid all the arguments. but they are trying to find common ground in the middle and they dough do go with simpson- plan. >> it's lowering marginal rates. i can't say it more clearly. marginal rates. if you want to factor in all the deductions -- >> ultimately this is all going to be a fight
by the statements of both president obama and governor mitt romney, that iran, that they will do everything and they will consider everything, including if necessary the military option in order to prevent a nuclear possession of iran. >> now, of course, we also spoke at length about the israeli economy, especially in light of these geopolitical tensions, and the finance minister reiterated the projected growth for 2013 is at 3%. unemployment is at 6.9%. of course, he's also saying that direct investment in israel is up 40% over precrisis levels. of course, most of that trade between the u.s. and europe and israel. but they've also been looking to china and india over the last three years for an increase in international trade. so again the israeli finance minister in an exclusive interview with cnbc reiterateding his support, but also keeping that possibility open for military action over teheran's nuclear ambitions. ross? >> okay, hadleigh, thanks for that. we did nudge down from an up position to a down post. the eurozone weaker than expected, particularly in germany. we're just nudging
ryan, mitt romney's running mate, has called the payroll tax cut sugar high economics. that 2% at a roll tax cut on wages is used to fund social security. aarp arguably the most powerful lobby for seniors says after two years a further extension sets a bad precedent in undermining funding for social security. it will be over the fate of the bush tax cuts especially for rich americans versus extending middle class tax cuts. so can we say negotiations? >> can we is the question. thanks, hampton. how will this battle play out? andrew fieldhouse is with economic policy institute. he says allowing social security tax cut to expire puts too much drag on the economy right now. alex is an economist and research fellow at the american enterprise institute who thinks the tax cut was and still is a bad idea. andrew, why should the payroll tax cut be extended? >> it's premature to withdraw any fiscal stimulus at this point. both sides of the aisle are concerned now that it will push the economy back into a recession. it's important to understand that expiring ad hoc fiscal stimulus is the
to tell me if mitt romney is going to make an interest rate difference. is warren buffett right? is the economy inching forward? or is the year-end tax hike going to crush it? why didn't we protect our own men on the ground in benghazi? breaking new details show everywhere the white house did not act fast enough. "kudlow report" moments away. >>> going back and
. >> two times the amount of high five. >> romney supporters may not question the validity of the data but they'll say that 2% is not strong enough to support job growth in this economy. while the numbers are not bad, they're not bad, they're not good and they're not good enough for job creation. >> last night on "mad money" you said almost no company gets through the ridiculous gauntlet of the third quarter unscathed and you have said the next 11 days before election day are going to be tough no matter what. >> they're torture. i keep coming back to a couple -- this is the best example. we had broadcom on the other day. scott mcgregor, the ceo. they blew in numbers when it comes to wireless. they did good cable numbers. we had comcast with good numbers. they exceeded every single metric. they have tremendous apple business. i was joking about going 33 bid because stock was at 34 at a time. the stock has not had a minute's rest. it keeps going down. what more does the market want? the gauntlet is to high. it had technology. it had a sense that the peak was reached with apple. in other
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